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Councillor Liz Leyshon proposed the
recommendations, which were seconded by Councillor Bill Reavns.
 
Having been duly proposed and seconded, the
Council Resolved to consider and acknowlegde:-

a)   
The advice of the Council’s Interim Chief Finance Officer
(Section 151 Officer) in their Section 25 report (Appendix A) in
relation to the robustness of the Budget estimates and the adequacy
of the level of Reserves for 2025/26, as required by Section 25 of
the Local Government Act 2003.

b)   
The Section 151 Officer’s warning about the critical
financial position of the Council, the £101.384m 2026/27
Budget gap increasing to £190.041m over the medium term,
inadequate reserves and the lack of financial sustainability over
the period 2026/27 to 2029/30.

c)   
The minimum level of Reserves was set at 5% of the Net Revenue
income stream on 1 April 2025 which was £33.254m (excluding
the use of EFS to meet the Net Revenue Budget). The appropriate
level of General Fund Balance be set at £60.000m for
2025/26.

d)   
The responsibility of Council Members under Section 31A of the
Local Government Finance Act 1992, to have regard to this report
when making decisions on agreeing the Budget and setting the
Council Tax for the financial year 2025/26.
 
(NB – recommendation (c) amended at the
meeting)